The Case of the Missing Housing Inventory . . . Solved!?!

Structural, Not Psychological Explanation The years-long shortage of housing inventory has been a head-scratcher for many real estate experts (including this one). According to Econ 101, rising prices eventually elicit more supply, which cools off prices, which in turn reestablishes market equilibrium. Except that hasn’t happened the last few years. If anything, the shortage of...
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